Foresight Solar Fund Ltd (LSE:FSFL)'s Toby Virno talked with Proactive's Stephen Gunnion about the company’s second-quarter net asset value (NAV) update and wider performance indicators for 2025.
The fund reported a NAV of £603.8 million, equivalent to 108.5 pence per share. Virno noted that the company benefited from high levels of solar irradiation across the UK, contributing to a strong operational performance. “We’ve had plenty of sunshine in the UK… [electricity production was] 4% above budget,” he said.
Despite a reduction in NAV driven by lower UK power price forecasts, cash flow remains resilient, and the company is on track to meet its dividend targets. The board has reaffirmed a 1.3x dividend cover target for the year.
Virno also highlighted ongoing debt reduction efforts and the continuation of a substantial share buyback program, with an additional £10 million allocated. “This buyback program remains one of the largest in the sector relative to the fund size,” he explained.
A major forward-looking highlight includes the announcement of 100MW in new battery storage capacity in Spain, advancing the company’s development pipeline. One solar project in Spain is expected to become fully committed later this year, marking another key milestone.
To hear more insights like this, visit Proactive’s YouTube channel. Don’t forget to like the video, subscribe to the channel, and enable notifications for future content.
#ForesightSolar #RenewableEnergy #SolarPower #GreenInvesting
#BatteryStorage #DividendStocks #SustainableEnergy #ShareBuyback
#CleanEnergyInvesting #TobyVirno #EnergyTransition #UKSolar #ESGInvesting
